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NHL And Players' Association Reach Tentative Deal To End Lockout

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(NEW YORK) -- The NHL and the players' association agreed to a tentative deal early Sunday morning, paving the way to end the 113-day lockout. The new collective bargaining agreement still needs to be ratified by both a majority of the players and owners.

"We got to dot a lot of Is and cross a lot of Ts," Bettman said. "There's still a lot of work to be done, but the basic framework of the deal has been agreed upon."

The CBA is for ten-years, with each side having the option to end the deal after eight, according to ESPN.

Under the new pact, teams are allowed to give free agents a maximum contract of seven years, but can re-sign their own players for eight years. The salary cap for the upcoming shortened season will be $70.2 million, and will drop for the 2013-14 season to $64.3 million.

The league hasn't announced how many games they will play this season, or a start date.

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